IQCent

Our Opinion On IQCent

IQCent is a popular binary options and CFD broker with a welcome bonus and 24/7 support. Our team finds that the high payouts up to 98% compare well to rivals and the brand caters to both short and long-term traders with binaries ranging from 5 seconds to 1 month. We note that IQCent operates with limited regulatory oversight, however the broker is a professional outfit with a beginner-friendly trading environment.

Summary

• Instruments – 100+ binary options and CFDs covering forex, indices commodities and crypto
• Live Accounts – Bronze, Silver, Gold and VIP
• Platform & Apps – Proprietary Web Trader
• Deposit Options – Visa/Mastercard, wire transfer and crypto
• Demo Account – Yes

Pros & Cons

Is IQCent Regulated?

IQCent trails many forex brokers when it comes to regulatory oversight. The company is based offshore in the Marshall Islands and is registered with the International Financial Market Relations Regulation Center (IFMRRC).

Our experts don’t consider this a reputable financial authority so you may not receive the same legal protections afforded by brokers regulated by trusted bodies like the UK Financial Conduct Authority (FCA) or the Australian Securities & Investments Commission (ASIC).

With that said most binary options brokers operate with limited scrutiny given their uncertain regulatory nature. In addition, our team did not find reports of major security breaches connected to IQCent.

We are also pleased to see that the platform is protected by 256-bit SSL encryption and that traders can enable two-factor authentication (2FA) upon login. These are both important account safeguards.

Live Accounts

IQCent operates a straightforward account structure with four levels (Bronze to VIP). This is designed to reward loyal clients with a range of perks, from bonuses and payout boosts to free rollovers and faster withdrawals.

On the negative side, the higher account tiers require a large deposit of $5,000+, which will put the best trading conditions out of reach for many retail traders.

We are pleased to see four account base currencies: USD, EUR, GBP and RUB. This makes the broker accessible to global traders who can avoid conversion fees. The minimum trade size is also low at just $0.01.

We have highlighted the key differences between the account tiers below.

Bronze

$250 minimum deposit

• 0.1% TradeBack
• 20 free rollovers
• 0% payout boost
• 20% deposit bonus
• Standard customer support
• Eight-hour withdrawal time

Silver

$1,000 minimum deposit

• 0.5% TradeBack
• 50 free rollovers
• 50% deposit bonus
• 1% payout boost
• Priority customer support
• Four-hour withdrawal time

Gold

$5,000 minimum deposit

• 1% TradeBack
• 300 free rollovers
• 100% deposit bonus
• 2% payout boost
• Priority customer support
• Personal success manager
• One-hour withdrawal time

VIP

$50,000 minimum deposit

• 2% TradeBack
• 500 free rollovers
• 2% deposit bonus
• 3% payout boost
• Instant withdrawal time
• Priority customer support
• Personal success manager

How To Open An Account

We found the registration process at IQCent very quick, taking us less than two minutes. However, withdrawal rules require strict identity verification, which adds admin time later on.

To register for an account:

1. Navigate to the sign-up form
2. Provide your name, email address, password and choose a base currency
3. Click Sign Up
4. Log into the client portal with your login credentials

Trading Fees

There are no direct fees when trading binaries – you either lose your stake or win the advertised payout.

IQCent offers higher payouts than many rivals up to 98%, although this is a headline figure and returns are usually lower than this. That being said, we still see generous payouts on a range of forex binary options, including 95% on EUR/GBP, AUD/USD and GBP/CAD.

CFD trading will incur fees in the form of floating spreads and there is no commission. Importantly, the spreads compare well to many forex brokers. For example, when we tested IQCent, the GBP/USD spread was 0.8 pips and the spread for EUR/USD was as low as 0.1 pips.

Non-Trading Fees

We are slightly disappointed to see a $10 monthly inactivity fee charged to dormant accounts – this comes into effect if no trades are made in three months. While not a major drawback for us, it is worth noting if you are a casual trader.

On the positive side, there are no fees for deposits and withdrawals, an advantage over some binary options brokers. This helps keep non-trading costs low.

Payment Methods

IQCent offers a strong selection of deposit options, including Visa/Mastercard cards, bank wire transfers and several cryptos, including Bitcoin, Ethereum and Litecoin.

Funds deposited are also available immediately for trading once the broker receives a payment confirmation. In our experience, this process should be completed within 30 minutes for Visa/Mastercard deposits.

Ultimately, funding your IQCent account is straightforward, fast and secure.

How To Make A Deposit

1. Log in to your IQCent account
2. Click Add Funds
3. Choose the deposit amount and click Next Step
4. Enter any promo/bonus codes, choose your funding method and click Continue
5. Follow the on-screen instructions to finalize the payment

How To Make A Withdrawal

We have mixed feelings about the withdrawal process at IQCent.

On the plus side, the $20 minimum withdrawal is low. You can also request a withdrawal in a few easy steps from the client portal if you have verified your identity.

On the downside , we are less enthusiastic about the broker linking your account type to the withdrawal time, with lower-tier accounts having to wait longer to receive profits. Other binary options brokers keep withdrawal times consistent across their accounts.

Forex Assets

IQCent offers a decent selection of forex pairs for both binary options and CFD traders. With dozen of assets, you can trade majors like EUR/USD and GBP/USD and exotic pairs like USD/ZAR.

Ultimately, we are comfortable that there is strong enough coverage for most aspiring forex traders.

Our team also rate the choice of expiry times on forex binary options. Turbo, intraday and long-term binaries are available spanning 5 seconds to 1 month, catering to both short- and long-term trading strategies.

This is an advantage over many binary options brokers that focus on short-term opportunities only.

Non-Forex Assets

IQCent trails many brokers when it comes to non-forex assets. There is a modest range of indices and cryptocurrencies, but with just two commodities and no stocks, some traders will be disappointed. Pocket Option is a better pick if you want to speculate on commodities and shares.

You can trade:

• Ten cryptos including Bitcoin, Ethereum and Ripple
• Two commodities consisting of Brent Crude Oil and Copper
• Seven indices including the S&P 500, Nasdaq 100 and FTSE 100

Leverage

IQCent offers high leverage up to 1:500 on CFDs.

However, the broker’s leverage rates depend heavily on the market. Most forex pairs and all indices have upper limits of 1:500 but more volatile forex pairs are capped at 1:300. Crypto is more restrictive at 1:10.

The margin call level is set at 5%, which is the point at which all open trades will be automatically closed.

Remember that, although higher leverage is often seen as a positive, it does create more risk, particularly when trading in volatile markets where the price can move up and down quickly.

Platforms & Apps

The user-friendly proprietary platform is a highlight of trading at IQ Option in my opinion. It is run directly within a browser and has TradingView-powered charts with a range of indicators.

Importantly, it is easy to pick up and offers a more modern interface than popular third-party platforms like MetaTrader 4, although I appreciate it doesn’t offer the same degree of technical analysis.

Straightforward access to your trading history and account statistics like total turnover and net balance are also helpful. Other highlights for me include:

• 12 timeframes
• Tick and candle chart types
• Market and pending order types
• Take-profit and stop-loss order limits
• Tutorial videos within the platform to assist new traders
• Technical indicators for volume, momentum, volatility and trends

Mobile traders can also download the IQCent app for Apple or Android devices. Upon testing, I found that the application contains many of the same features as the browser-based solution while also retaining the same slick navigation.

How To Make A Binary Options Trade

You can place a binary options trade in the platform a few straightforward steps:

1. Choose an asset from the menu drop-down, e.g. EUR/USD
2. Select the order type, e.g. turbo, intraday or long term
3. Choose an expiry time based on the list available
4. Input the size of your stake
5. Review the potential payout
6. Select Up or Down to confirm the trade

Forex Tools

Whilst IQCent doesn’t offer a large selection of additional tools, I do rate the copy trading service.

Up to ten traders can be copied at once, which is useful for both beginners who lack experience and those that do not have sufficient time to monitor assets. In addition to a list of top traders, I like that you can see which users are making profitable trades in real-time.

All you need to do to get started is find a trader, enter the amount to invest and press copy. Then you will automatically mirror their positions in your own account.

Forex Research

IQCent has integrated with TradingView to provide a market news feed directly into the platform. Some of the news stories have links to the main article on the TradingView website, allowing you to gain yet more insight at the click of a button.

Another feature worth highlighting is the technical analysis buy/sell indicator, which is available for different timeframes, ranging from 1 minute to 1 month. This can help suggest future price movements, though I recommend combining this with your own research and analysis.

Overall, while the broker provides some market research tools, it does trail industry leaders who often provide live video analysis with expert commentary. The depth and level of insights ultimately don’t match the best forex brokers.

Forex Education

IQCent offers an average selection of educational materials.

There are blogs covering various topics, including strategies for trading crypto, plus guides to using the web platform.

However, many other brokers have more extensive educational sections with video tutorials and webinars to teach newer traders about forex and the financial markets.

Demo Account

IQCent offers a demo account but you have to make a deposit before you can access it. So, while it will be useful for active traders looking to test strategies alongside their real-money accounts, it won’t serve prospective clients.

This is a significant drawback compared to alternatives like Pocket Option where you can practice trading without funding an account. We also found that you can get started with the Pocket Option demo account in seconds.

Bonus Offers

IQCent offers a range of bonuses, which it has the freedom to do as an offshore broker.

All customers are automatically signed up for the Trading Contest, where extra cash and bonuses can be earned based on trading results. The minimum trade size to qualify towards competition requirements is $10 and the weekly prize fund is an impressive $20,000.

Other trading promotions include:

• Simple bonus offers like $5 to verify your email address
• Risk-free trades, where any losses are compensated with a bonus
• Giveaway of rewards like iPhones and iPads based on prize draws
• SuperStrike, which increases the percentage of payouts on OTC currency pairs

Yet while these welcome bonuses and promotions are attractive, we never recommend selecting a broker based on their financial incentives alone. There are more important considerations, including pricing, trading tools and account safety.

We also suggest reading bonus terms and conditions before participating in promotional deals.

Trading Restrictions

I like that IQCent does not impose restrictions on trading strategies, such as forex scalping. This makes the broker appealing to those with different trading styles, abilities and goals.

However, traders should note that positions can only be closed on binary options before the expiry time if the position is in profit of 0.1% or more. If this is the case, the investment will be returned to your balance once the position is closed.

Customer Service

I have been impressed with the 24/7 customer support.

You can get in contact via live video chat (through the website), email (support@iqcent.com) and telephone (English +1-8299476383).

The video assistance, in particular, is a nice touch and is not available at many alternatives. This provides reassurance that, should there be any technical issues, such as the platform keeps crashing/is not working or you encounter withdrawal problems, help is on hand.

Response times are also faster than many forex brokers we have tested. We typically receive responses to our enquiries in less than a minute on live chat, although more complex questions can take longer.

I also find the FAQs useful to understand how to use the trading platform, verify your account and meet the requirements for a rollover.

Company Details

IQCent was launched in 2017 and is operated by Wave Makers Ltd, a company registered offshore, with headquarters in the Marshall Islands.

On the downside, the brokerage is not particularly upfront about its management team or customer base. We normally prefer brands to be more transparent as this adds to their credibility and trust score.

The binary options and CFD broker operates globally, though clients from the USA are not accepted.

Trading Hours

24/7 trading is supported by IQCent, so you can speculate, open positions and receive profits around the clock.

The platform’s time zone is set to GMT.

Who Is IQCent Best For?

IQCent will serve aspiring traders looking for an intuitive platform, a good range of underlying markets and a low minimum deposit.

The brand will also suit traders with longer-term strategies due to the 1 month expiry times – longer than many alternatives, and high payouts up to 98%.

On the negative side, IQCent won’t appeal to traders looking for a free demo account before they sign up, as you need to make a deposit first. The best account perks are also held behind a paywall for higher-tier clients.

Overall though, IQCent offers competitive binary options trading conditions for traders of all experience levels, strategies and budgets.

FAQ

Article Sources

IQCent Website

IFMRRC License